PCB Bancorp (NASDAQ:PCB) Short Interest Update

PCB Bancorp (NASDAQ:PCB) saw a large growth in short interest during the month of December. As of December 15th, there was short interest totalling 52,700 shares, a growth of 26.1% from the November 30th total of 41,800 shares. Based on an average daily trading volume, of 29,600 shares, the short-interest ratio is currently 1.8 days. Currently, 0.5% of the company’s stock are short sold.

PCB Bancorp Stock Performance

PCB traded up $0.06 during trading on Tuesday, reaching $20.24. The company’s stock had a trading volume of 16,340 shares, compared to its average volume of 24,373. The company’s fifty day moving average price is $20.54 and its 200-day moving average price is $18.71. PCB Bancorp has a 52-week low of $14.50 and a 52-week high of $22.20. The company has a market capitalization of $288.76 million, a price-to-earnings ratio of 11.98 and a beta of 0.70.

PCB Bancorp (NASDAQ:PCB) last announced its quarterly earnings data on Thursday, October 24th. The company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.07. PCB Bancorp had a return on equity of 8.68% and a net margin of 13.27%. The firm had revenue of $48.62 million for the quarter, compared to analyst estimates of $25.50 million. Equities analysts predict that PCB Bancorp will post 1.74 earnings per share for the current year.

PCB Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were issued a $0.18 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.72 dividend on an annualized basis and a yield of 3.56%. PCB Bancorp’s dividend payout ratio (DPR) is presently 42.60%.

Analyst Ratings Changes

PCB has been the topic of a number of research reports. Piper Sandler raised their price target on PCB Bancorp from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Monday, October 28th. Keefe, Bruyette & Woods boosted their price objective on shares of PCB Bancorp from $20.00 to $23.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th.

Insiders Place Their Bets

In related news, Director Don Rhee bought 7,300 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The shares were purchased at an average cost of $21.22 per share, with a total value of $154,906.00. Following the transaction, the director now directly owns 399,144 shares of the company’s stock, valued at approximately $8,469,835.68. This represents a 1.86 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Henry Kim acquired 3,000 shares of the company’s stock in a transaction on Monday, November 25th. The shares were purchased at an average cost of $21.44 per share, for a total transaction of $64,320.00. Following the acquisition, the chief executive officer now owns 22,785 shares of the company’s stock, valued at approximately $488,510.40. The trade was a 15.16 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired 31,374 shares of company stock valued at $660,622 in the last ninety days. Insiders own 25.01% of the company’s stock.

Institutional Investors Weigh In On PCB Bancorp

Several institutional investors have recently modified their holdings of PCB. Bank of New York Mellon Corp raised its holdings in PCB Bancorp by 5.9% during the second quarter. Bank of New York Mellon Corp now owns 75,933 shares of the company’s stock worth $1,236,000 after purchasing an additional 4,242 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in PCB Bancorp by 6.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 461,114 shares of the company’s stock valued at $7,506,000 after acquiring an additional 26,859 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of PCB Bancorp by 24.2% in the second quarter. Renaissance Technologies LLC now owns 52,401 shares of the company’s stock valued at $853,000 after purchasing an additional 10,200 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of PCB Bancorp by 5.1% in the third quarter. Empowered Funds LLC now owns 52,040 shares of the company’s stock worth $978,000 after acquiring an additional 2,546 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of PCB Bancorp in the third quarter valued at $407,000. Hedge funds and other institutional investors own 33.04% of the company’s stock.

About PCB Bancorp

PCB Bancorp operates as the bank holding company for PCB Bank that provides various banking products and services to small to medium-sized businesses, individuals, and professionals in Southern California. The company offers demand, savings, money market, and time deposits, as well as certificates of deposit; and trade finance, remote deposit capture, courier deposit services, positive pay services, zero balance accounts, and sweep accounts.